Typical Career Progression
|
|
Position
|
Salary
|
Experience
|
Education
|
|
Start position
|
Junior Analyst (Specific) |
$35k - $45k |
0 to 2.5 Years |
Undergraduate or Degree |
|
1st Promotion
|
Analyst (Specific) |
$55k - $75k |
2 to 5 Years |
Degree |
|
2nd Promotion
|
Senior Analyst (Specific) |
$90k - $150k |
5 to 8 Years |
Degree |
|
3rd Promotion
|
Director (Specific) |
$150k - $250k |
9 to 15 Years |
Degree |
|
4th Promotion
|
Head Analyst (Non - Specific) |
$250k - $500k |
15 Years + |
Degree |
**The above table should be used as a guide only
Typical Accountabilities & Responsibilities
| Junior Analyst (Specific) |
Mainly responsible for collating and reviewing data. Learning analysis skills and assisting an analyst.
|
|
Analyst (Specific)
|
Responsible for reviewing information and commenting on expectations. Mainly internal client contact and service.
|
|
Senior Analyst (Specific)
|
More responsibility than Analyst level, high client contact/market contact. Assisting Director in analysis direction.
|
|
Director (Specific)
|
Involved in all aspects of the business. High level of external and internal client contact. High level of business responsibility. Makes the final decisions for specific sectors.
|
| Head Analyst (Non Specific) |
Responsibility for all direction and business objectives. Strategic responsibility. Very high level of internal and external client contact. Directors feed information to the head analyst.
|
**The above table should be used as a guide only
Career Path Options
Your career options are numerous as you possess a standardised and transferable skill set that can be applied to any local or international market and almost any financial product or instrument.
Changing companies, states, and countries is possible, and recommended to progress your career.
Learning and enhancing your analysis techniques will improve your chances of progression. Fundamental or technical analysis, trend charting, ... the list of analytical tools is endless. The more tools you are familiar with, the more effective an advisor you become.
You can work for banks, insurance companies, mutual and pension funds, securities firms, and other businesses, helping these companies or their clients make investment decisions. If you’re employed in commercial lending, you perform “balance sheet analysis”, where you examine audited financial statements and data in order to assess lending risks.
Your success is directly related to your proficiency in the use of spreadsheets, databases, PowerPoint presentations and other software applications. You need to put in long hours, develop interpersonal relationships with superiors, be available for all projects and develop communication and people skills by crafting written and oral presentations that impress senior management.
About the Author
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Andrew Madgwick Wholesale Banking, NAB
Although considered young, Andrew has been involved in the markets for the past 4 years. Holding positions at a Team Leader level in wholesale banking operations for FX Options and Commodity Derivatives and working in a Project Management role as SME has given him a real understanding of ‘how things work’. Throughout this time he has been able to develop key relationships with stakeholders in all sections of the wholesale banking business.
Andrew holds an undergraduate degree from Macquarie University in Applied Finance and a Graduate Diploma of Applied Finance and Investment from FINSIA..
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